Technocapitalism
Encyclopedia
Technocapitalism is a term used to describe the changes in capitalism
brought about by the emergence of high technology sectors in the economy.
that generates new forms of corporate organization designed to exploit intangibles such as creativity
and new knowledge
. The new organizations, which he refers to as experimentalist organizations are deeply grounded in technological research, as opposed to manufacturing and services production, and in the appropriation of research outcomes as intellectual property.
Under technocapitalism, creativity and new knowledge become the most valuable resources, much as raw materials and factory labor were under industrial capitalism. His book argues that new technology sectors such as nanotechnology
, biotechnology
and its many fields, such as synthetic bioengineering, bioinformatics
, biopharmacology
, and agro-biotech, the emerging new field of biomimetics
and its transformation of robotics
, and the introduction of molecular processors in computing and communications, among various new sectors and technologies, will become symbolic of the 21st century, in much the same way that aviation and mass production were of the 20th century.
Dinesh D'Souza
, writing about Silicon Valley
, used the term to describe the corporate environment and venture capital
relationships of the high tech economy. The term technocapitalism was also used by philosopher Douglas Kellner
in an examination of trends in production from the perspective of the Frankfurt School
, to describe the use of technology and its social relationships.
Capitalism
Capitalism is an economic system that became dominant in the Western world following the demise of feudalism. There is no consensus on the precise definition nor on how the term should be used as a historical category...
brought about by the emergence of high technology sectors in the economy.
New organizations
Luis Suarez-Villa, in his 2009 book Technocapitalism: A Critical Perspective on Technological Innovation and Corporatism argues that it is a new version of capitalismCapitalism
Capitalism is an economic system that became dominant in the Western world following the demise of feudalism. There is no consensus on the precise definition nor on how the term should be used as a historical category...
that generates new forms of corporate organization designed to exploit intangibles such as creativity
Creativity
Creativity refers to the phenomenon whereby a person creates something new that has some kind of value. What counts as "new" may be in reference to the individual creator, or to the society or domain within which the novelty occurs...
and new knowledge
Knowledge
Knowledge is a familiarity with someone or something unknown, which can include information, facts, descriptions, or skills acquired through experience or education. It can refer to the theoretical or practical understanding of a subject...
. The new organizations, which he refers to as experimentalist organizations are deeply grounded in technological research, as opposed to manufacturing and services production, and in the appropriation of research outcomes as intellectual property.
Under technocapitalism, creativity and new knowledge become the most valuable resources, much as raw materials and factory labor were under industrial capitalism. His book argues that new technology sectors such as nanotechnology
Nanotechnology
Nanotechnology is the study of manipulating matter on an atomic and molecular scale. Generally, nanotechnology deals with developing materials, devices, or other structures possessing at least one dimension sized from 1 to 100 nanometres...
, biotechnology
Biotechnology
Biotechnology is a field of applied biology that involves the use of living organisms and bioprocesses in engineering, technology, medicine and other fields requiring bioproducts. Biotechnology also utilizes these products for manufacturing purpose...
and its many fields, such as synthetic bioengineering, bioinformatics
Bioinformatics
Bioinformatics is the application of computer science and information technology to the field of biology and medicine. Bioinformatics deals with algorithms, databases and information systems, web technologies, artificial intelligence and soft computing, information and computation theory, software...
, biopharmacology
Biopharmacology
The biopharmacology is the branch of pharmacology that studies the use of biotechnologic originated drugs ....
, and agro-biotech, the emerging new field of biomimetics
Biomimetics
Biomimetics is the study of the structure and function of biological systems as models for the design and engineering of materials and machines. It is widely regarded as being synonymous with biomimicry, biomimesis, biognosis and similar to biologically inspired design.-History:The term biomimetics...
and its transformation of robotics
Robotics
Robotics is the branch of technology that deals with the design, construction, operation, structural disposition, manufacture and application of robots...
, and the introduction of molecular processors in computing and communications, among various new sectors and technologies, will become symbolic of the 21st century, in much the same way that aviation and mass production were of the 20th century.
Dinesh D'Souza
Dinesh D'Souza
Dinesh D'Souza is an author and public speaker and a former Robert and Karen Rishwain Research Fellow at the Hoover Institution at Stanford University. He is currently the President of The King's College in New York City. D'Souza is a noted Christian apologist and conservative writer and speaker....
, writing about Silicon Valley
Silicon Valley
Silicon Valley is a term which refers to the southern part of the San Francisco Bay Area in Northern California in the United States. The region is home to many of the world's largest technology corporations...
, used the term to describe the corporate environment and venture capital
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
relationships of the high tech economy. The term technocapitalism was also used by philosopher Douglas Kellner
Douglas Kellner
Douglas Kellner is a “third generation” critical theorist in the tradition of the Frankfurt Institute for Social Research, or Frankfurt School. Kellner was an early theorist of the field of critical media literacy and has been a leading theorist of media culture generally...
in an examination of trends in production from the perspective of the Frankfurt School
Frankfurt School
The Frankfurt School refers to a school of neo-Marxist interdisciplinary social theory, particularly associated with the Institute for Social Research at the University of Frankfurt am Main...
, to describe the use of technology and its social relationships.
Benefits
One of the main benefits of technocapitalism is the fact that because technology is getting more advanced, the efficiency to produce goods increases, making them cheaper. As more production is automated, and the supply of goods is limited more by the availability of the raw resources rather than the cost to produce them (which is just the maintenance costs of the automated system), goods and services slowly turn into free public goods. This leads to an automated economy in which nearly all needs and wants are satisfied. This state of economy is sometimes referred to as technologic utopia.See also
- CreativityCreativityCreativity refers to the phenomenon whereby a person creates something new that has some kind of value. What counts as "new" may be in reference to the individual creator, or to the society or domain within which the novelty occurs...
- KnowledgeKnowledgeKnowledge is a familiarity with someone or something unknown, which can include information, facts, descriptions, or skills acquired through experience or education. It can refer to the theoretical or practical understanding of a subject...
- Post ScarcityPost scarcityPost scarcity is a hypothetical form of economy or society, in which things such as goods, services and information are free, or practically free...
- The End of WorkThe End of WorkThe End of Work: The Decline of the Global Labor Force and the Dawn of the Post-Market Era is a non-fiction book by American economist Jeremy Rifkin, published in 1995 by Putnam Publishing Group....
by Jeremy Rifkin
- Technological singularityTechnological singularityTechnological singularity refers to the hypothetical future emergence of greater-than-human intelligence through technological means. Since the capabilities of such an intelligence would be difficult for an unaided human mind to comprehend, the occurrence of a technological singularity is seen as...
- Technological determinismTechnological determinismTechnological determinism is a reductionist theory that presumes that a society's technology drives the development of its social structure and cultural values. The term is believed to have been coined by Thorstein Veblen , an American sociologist...
- Technological evolutionTechnological evolutionTechnological evolution is the name of a science and technology studies theory describing technology development, developed by Czech philosopher Radovan Richta.-Theory of technological evolution:...
- Techno-utopianismTechno-utopianismTechnological utopianism refers to any ideology based on the belief that advances in science and technology will eventually bring about a utopia, or at least help to fulfill one or another utopian ideal...